San Francisco (June 23, 2004) -- PensionOnline, Inc. a leading provider of technology products for the retirement services industry, today announced its latest offering, open-source development toolkits for companies creating software applications. These capabilities will provide organizations building new applications a head-start on the creation of retirement applications.
Programmers can utilize these calculation engines to quickly and accurately compute retirement plan contributions while demonstrating compliance and IRS guideline requirements. These tools provide enterprises and solution developers foundations to build upon, customize, integrate, and create pension solutions that meet their unique business requirements.
Marco Brown, PensionOnline President and CEO stated, "Retirement service providers, TPAs, and even other software companies now have limited internal development resources. However, the demand for client specific applications has not subsided. Now, we can support the development of this software by providing clients with one, two, or many proven technology foundations. Our software will become a part of their larger overall platform, essentially an Intel inside model for our industry."
Initially the toolkits available for customers include Basic, Compliance, and Data Handling modules which can be purchased individually or as a suite. The Basic offering for example includes code that address eligibility, HCE and Key employees, calculation of employee allocation, calculation of employer match, and maximum elective deferrals under IRC 402(g). More toolkits will be rolled out on a regular basis.
These tools, ActiveX components, have been designed using Visual Basic 5 with Service Pack 3, and are intended to be used in Windows 95, 98, Millennium, Windows NT 4.0, workstation or server or Windows 2000. Sample code that demonstrates the basic API functions is also included.